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First Health Announces Major New Clients
Contact:
Edward L. Wristen, President and COO
or
Joseph E. Whitters, CFO
First Health
630-737-7511
DOWNERS GROVE, IL - September 11, 2001 - James C. Smith,
chairman and chief executive officer of First Health Group
Corp. (NASDAQ: FHCC), announced today that the Company has
entered into agreements to provide Group Health, Workers’
Compensation and Auto services to, among others:
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Zurich Services Corporation
Farmers Insurance
Jacksonville Plumbers & Pipefitters
Health and Welfare Fund
Hyatt Gaming Services
KB Holdings, Inc.
Microchip Technology, Inc. |
Dr Pepper/Seven-Up Bottling
Group, Inc.
Hannover Life Reassurance Company of America
Strategic Outsourcing, Inc.
Genesis Managed Care, Inc.
Public Employees’ Benefits Program - Nevada
Parker Hannifin Corporation
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Also, Mr. Smith noted that the Company has been successful
in cross-selling additional services such as Preferred Provider
Organization (PPO), Claims Administration, Bill Review, Clinical
Management, Pharmacy Benefit Management (PBM), and Stop Loss
Insurance to numerous existing clients, including:
| Eaton Corporation
Eagle Insurance
Roundy’s, Inc.
GENEX Services, Inc.
Fireman’s Fund
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Rosenbluth International
The Hartford
The Hanover Insurance Company
American Compensation Insurance Company
McDonald’s Corporation |
Additionally, Mr. Smith noted that the Company has recently
renewed its long-term contracts with two of its largest Workers’
Compensation insurance clients, Liberty Mutual Insurance Company
and Travelers Insurance Company. Also, Mr. Smith stated
that the integration of the CCN Managed Care acquisition is
going quite well and the Company is very pleased with the
response from CCN’s clients, employees and contracted medical
providers.
First Health, the nation’s premier full-service health benefits
company, specializes in providing large employers with one
integrated source for group health and workers’ compensation.
By combining pioneering technology with expert industry knowledge,
First Health delivers comprehensive, cost-effective solutions
for its clients nationally. For more information, visit
the company web site at www.firsthealth.com.
Certain statements herein regarding anticipated financial
results for fiscal 2001 and beyond and the Company’s business
and growth prospects are forward-looking statements that involve
substantial risks and uncertainties. In accordance with
the Private Securities Litigation Reform Act of 1995, factors
that could cause the Company’s actual results to differ materially
from those expressed or implied by such forward-looking statements
include, among others, the inability of the Company to continue
to: (i) enter into contracts with and successfully implement
programs for new clients within the time frame established
by the Company and achieve the revenue growth expected to
result from the addition of such clients, (ii) expand
its group health, workers’ compensation and public sector
business, (iii) achieve the growth in the group health
area that is anticipated as a result of the Company’s strategy
of focusing on larger, multi-sited national employers,
(iv) control healthcare benefit expenses, (v) operational
cost synergies anticipated as a result of the CCN acquisition,
or (vi) ability to timely add HCA facilities to the
First Health® Medical Network. All forward-looking
statements herein are made as of the date hereof and the Company
undertakes no obligation to update such statements.
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